Alstone Textiles (India) Limited reported nil related party transactions for the quarter and half year ended September 30, 2026. The company confirmed that no transactions were entered into with related parties as defined under applicable accounting standards and SEBI regulations during the reporting period.

This disclosure was filed pursuant to Regulation 23(9) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The filing aligns with the new SEBI format mandated by Circular No. SEBI/HO/CFD/CMD1/CIR/P/2021/662 dated November 22, 2021.

Compliance details

The company stated that while Related Party Transaction provisions are applicable to its operations, no such transactions occurred in the specified timeframe. Consequently, the detailed disclosure table regarding loans, inter-corporate deposits, advances, or investments remains empty, with opening and closing balances recorded as NIL.

The disclosure was signed by Deepak Kumar Bhojak, Managing Director, on October 7, 2026, and submitted to the Bombay Stock Exchange.

Alstone Textiles (India) Limited reported a net loss of ₹10,672.25 lakh for the quarter ended September 30, 2026 (Q2FY27), marking a sharp reversal from the profit of ₹150.40 lakh recorded in the corresponding quarter last year.

The company logged revenue from operations of ₹78,488.42 lakh in Q2FY27, compared to nil in the year-ago period. This sudden spike in top line coincided with a massive increase in inventory and purchase costs, which drove total expenses to ₹89,160.67 lakh, significantly outpacing income.

Financial Performance Overview

The transition from a dormant operational state to active trading resulted in substantial working capital deployment. While revenue jumped from zero to over ₹784 crore, the cost structure expanded disproportionately. Purchase of stock-in-trade stood at ₹169,501.14 lakh, while changes in inventories contributed a negative adjustment of ₹91,007.00 lakh to expenses, reflecting the build-up of stock.

Finance costs also rose sharply to ₹2,818.34 lakh in Q2FY27, up from negligible levels in previous periods, contributing to the widening loss before tax.

What the Numbers Show

A critical divergence exists between the balance sheet contraction and the income statement expansion. Total assets fell from ₹2,081.36 crore as on March 31, 2026, to ₹1,005.89 crore as on September 30, 2026. This decline is primarily driven by the reduction in non-current loans from ₹1,695.00 crore to zero, suggesting that long-term receivables were either recovered or reclassified. Simultaneously, current assets surged from ₹12.73 crore to ₹922.81 crore, largely due to an increase in inventories to ₹921.55 crore. This indicates a strategic shift where capital previously locked in loans has been redeployed into inventory, triggering the high purchase costs and subsequent accounting loss despite the revenue recognition.

Regulatory Compliance and Board Actions

The Board of Directors approved the un-audited financial results during a meeting held on October 7, 2026. In compliance with Regulation 32 of SEBI (LODR) Regulations, 2015, the Board also confirmed that there is no deviation or variation in the utilization of proceeds raised through the issue of 500 crore Non-Convertible Preference shares amounting to ₹500 crore. The funds have been utilized strictly in accordance with the objects stated in the Explanatory Statement to the notice of the General Meeting.

The statutory auditor, VRSK & Associates, issued a limited review report with an emphasis of matter regarding interest on loans given and taken not being provided for in the accounts.